LLY - Is It Possible Eli Lilly Is Breaking Out To New All-Time Highs?

2024-06-05 14:05:17 ET

Summary

• Eli Lilly has been outperforming the S&P 500.
• The company's blockbuster drug Mounjaro has been approved in China, resulting in high demand and a strong earnings report.
• The five-year target price for Eli Lilly has been raised to $1,455 based on conservative earnings projections and a multiple of 40X.

I first wrote about Eli Lilly ( LLY ) on Sept. 11, 2023, in an article titled “ Eli Lilly Stock Hit New All-Time Highs: Is It Still a Buy? ” At the time, the stock was trading at $595.56 per share and its blockbuster diabetes drug Mounjaro had not yet been approved for weight loss. Although it was almost certain that an approval was coming....

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